证券代码：002271 证券简称：东方雨虹 公告编号：2026-002 北京东方雨虹防水技术股份有限公司 第九届董事会第四次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 2026年1月16日，北京东方雨虹防水技术股份有限公司（以下简称"公司"） 第九届董事会第四次会议在公司会议室以现场及通讯相结合的方式召开。会议通 知已于2026年1月14日通过专人送达、邮件等方式送达给全体董事。会议应到董 事9人，实到董事9人，董事会秘书列席会议，会议的召集召开符合《公司法》及 《公司章程》的相关规定。会议由董事长李卫国先生召集并主持，全体董事经过 审议通过了如下决议： 一、审议通过了《关于出售资产的议案》 表决结果：同意9票，反对0票，弃权0票。 为盘活闲置固定资产，处置非生产资料，提高公司资产运营产销率，优化资 产结构，同意出售公司及下属子公司通过购买取得并持有的部分不动产或公司及 下属子公司作为债权人取得的部分下游客户抵债资产。本次交易预计形成资产处 置损失2,903.68万元，自公司2025年12月9日最近一次披露《关于出售资产的公 告》后累计产生的 ...

Group 1 - The domestic waterproofing industry is experiencing accelerated clearing and optimization, with leading companies increasing their market share as prices recover from a low point [1] - Under multiple pressures such as downstream demand adjustments, regulatory upgrades, and stricter environmental standards, waterproofing prices have bottomed out, leading to the exit of small and medium-sized enterprises and a concentration of market share among top companies [1] - Oriental Yuhong, as the industry leader, has strengthened its market position, with its market share increasing from 15.8% in 2019 to 22.0% in 2024 [1] Group 2 - The company is expected to benefit in the short term from industry profit recovery and improved operational quality, while in the medium to long term, it will gain new growth potential from expanding product categories and accelerating overseas strategies [1] - A target price of 17.73 CNY per share is set for 2025, based on a 25 times price-to-earnings ratio, maintaining a "buy" rating for the company [1]

Core Viewpoint - Today, 14 stocks received buy ratings from institutions, with 5 stocks being newly covered by analysts [1] Group 1: Institutional Ratings - A total of 14 buy ratings were issued today, with China National Duty Free and Oriental Yuhong receiving the highest attention, each having one buy rating record [1] - Among the rated stocks, 6 provided future target prices, with 5 stocks showing an upside potential exceeding 10%. China National Duty Free has the highest upside potential at 26.49%, with a target price of 113.90 yuan from Guojin Securities [1] - Other stocks with significant upside potential include Pudong Development Bank and Zhongding Co., with potential increases of 26.25% and 25.65%, respectively [1] - Five stocks received buy ratings for the first time, including Ningde Times and Wanyuantong [1] Group 2: Market Performance - Stocks with buy ratings averaged a 2.12% increase today, outperforming the Shanghai Composite Index. Seven stocks saw price increases, with Yonyou Network hitting the daily limit [1] - The top gainers included Dazhu CNC, Chenguang Biotech, and Wanyuantong, with increases of 12.32%, 5.67%, and 4.09%, respectively [1] - Stocks that experienced significant declines included Pudong Development Bank, China National Duty Free, and Yangtze Power, with decreases of 2.85%, 2.02%, and 2.01%, respectively [1] Group 3: Earnings Performance - Among the stocks rated as buy, two have reported annual earnings forecasts, with Pudong Development Bank and Yangtze Power showing net profit growth rates of 10.52% and 5.14%, respectively [2] - Five stocks have announced annual earnings forecasts, with Chenguang Biotech expected to see the highest net profit growth of 301.38%, followed by Dazhu CNC and Chaohongji with expected growth rates of 177.24% and 150.00%, respectively [2]

Group 1: Company Overview - The report focuses on Gobi Jia (920438.BJ), a leading player in high-end optical materials, which is positioned as a pioneer in advanced packaging and AI upstream core material substitution [1][5][7] - Gobi Jia has established itself as a "small giant" in the glass industry, with a stable foundation and continuous breakthroughs in specialty functional glass, achieving import substitution in multiple fields [1][6][7] Group 2: Financial Projections - Revenue projections for Gobi Jia are estimated to reach 635 million, 928 million, and 1.339 billion yuan for the years 2025, 2026, and 2027 respectively, with net profits expected to be 63 million, 120 million, and 191 million yuan for the same years [1][7] - The report assigns a "buy" rating based on comparable company valuation averages, indicating a positive outlook for the company's financial performance [1][7] Group 3: Industry Insights - The waterproof industry, represented by Dongfang Yuhong (002271.SZ), is experiencing a market share increase due to industry recovery expectations and improved operational quality [10][11] - Dongfang Yuhong's market share has risen from 15.8% in 2019 to 22.0% in 2024, benefiting from the consolidation of market share among leading companies [10][11] - The company is prioritizing overseas expansion, with a compound annual growth rate (CAGR) of 37.0% in overseas revenue from 2020 to 2024, indicating a strong growth trajectory in international markets [11][12] Group 4: Strategic Developments - Gobi Jia is investing up to 1 billion yuan to build six production lines for specialty electronic glass fibers, targeting applications in AI servers, 5G/6G communications, and aerospace [6][7] - Dongfang Yuhong is transforming its business structure by enhancing retail channels, which accounted for 84% of revenue in the first half of 2025, and expanding product categories to drive growth [12][13]

Core Viewpoint - The paint industry is not in decline but is undergoing a restructuring, with significant investments indicating future potential [2][9]. Investment Trends - In 2025, the total investment in the paint industry is expected to exceed 47 billion yuan, with new production capacity surpassing 11 million tons [2][9]. - Numerous domestic and international companies, including major players like Nippon Paint, AkzoNobel, and others, are expanding or establishing new facilities [3][10][12]. Company-Specific Developments - Nippon Paint is investing 960 million yuan in a new automotive paint production base in Tianjin, with a capacity of 132,000 tons [10]. - AkzoNobel is expanding its architectural coating capacity in Shanghai and Langfang, adding over 230,000 tons [10]. - Other companies like Jotun, Sanke, and Meijiaxin are also making significant investments in new production facilities [12][13]. Market Dynamics - The paint industry is experiencing a slowdown compared to previous rapid growth, but the overall market remains substantial [6][14]. - The market is facing challenges such as rising raw material costs, shrinking demand in the construction sector, and increased competition [2][7]. Challenges and Opportunities - The pessimism surrounding the industry stems from overcapacity and a decline in demand for construction paints due to real estate market adjustments [7][14]. - Despite these challenges, there are opportunities for companies that adapt to new market conditions and explore applications in emerging industries [14].

Group 1 - The core project of Oriental Yuhong, the high-performance industrial coatings and sealants project with an annual production capacity of 58,000 tons, has officially launched in Xuzhou, Jiangsu, and is expected to be completed and put into production by the end of May 2026 [1] - In 2025, Oriental Yuhong achieved significant milestones in the building materials sector, with total annual production of mortar powder exceeding 12 million tons and cumulative production surpassing 30 million tons, marking a key transition from a waterproof leader to a comprehensive building materials service provider [3] - The company’s subsidiary, Tiandingfeng, was recognized as a manufacturing champion in Hunan Province for its "polyester base fabric" and has established large-scale manufacturing capabilities for "glass fiber reinforced polyester filament base fabric" [5] Group 2 - The new project will focus on the research and manufacturing of high-performance industrial coatings and sealants, catering to industries such as high-end equipment manufacturing, marine engineering, energy and power, infrastructure, and petrochemicals [7] - Oriental Yuhong aims to optimize its capacity layout through a "manufacturing + service" model, enhancing delivery efficiency and promoting green transformation and sustainable development in the industrial protection sector [7] - The company is actively diversifying its business layout by integrating core resources such as technology research and development, intelligent manufacturing, and channel networks to expand its market boundaries and contribute to high-quality development in the industrial sector [7]

Core Viewpoint - The company, Dongfang Yuhong (002271), emphasizes its diverse business segments and commitment to innovation in creating a safe living environment for humanity [1] Group 1: Business Segments - The company covers multiple business areas including building waterproofing, civil building materials, mortar powder, building coatings, energy-saving insulation, adhesives, piping, building maintenance, new energy, non-woven fabrics, special films, and emulsions [1] - The product range includes various insulation materials, anti-corrosion products, and both expandable and non-expandable fireproof coatings for steel structures, catering to different application scenarios [1] Group 2: Mission and Innovation - The company is dedicated to the mission of "creating a lasting and safe environment for humanity and society" and aims to enhance research and innovation [1] - The focus on research and innovation is intended to contribute to the quality of human living environments [1]

Core Viewpoint - The company emphasizes its commitment to green, low-carbon, and sustainable development through advanced research and innovation in waterproof materials [2] Group 1: Sustainable Development Initiatives - The company relies on key research platforms such as a national-level waterproof materials laboratory and a recognized enterprise technology center to drive product innovation [2] - The company explores sustainable development paths through "green design, green production, green construction, and green buildings" [2] - The company actively participates in evaluations and certifications for green products, achieving multiple authoritative certifications such as China Green Building Material Product Certification and China Environmental Label Product Certification [2] Group 2: Product Innovations and Solutions - The company has launched several green energy-saving products and solutions, including the Woniushan HEEC near-zero energy building system and the EDEE industrialized assembly roof system [2] - The company has established a comprehensive carbon management system and received the first "Carbon Management System Certification" in the waterproof industry [2] - The company is involved in the formulation of carbon emission standards for the building waterproofing industry and continues to promote low-carbon energy-saving products and systems based on its technical expertise [2] Group 3: Future Focus - The company will continue to monitor national policies and industry developments, leveraging its advantages in green building materials, system solutions, and research innovation to contribute to better living environments [2]

Group 1 - The core viewpoint of the article highlights that Dongfang Yuhong (002271) is actively expanding its product offerings in the construction and home use sectors, covering various applications such as water supply, drainage, heating, electrical protection, water purification, and water-saving irrigation [1] - The company is focusing on modern integrated system solutions for front-end water purification, end-point water conservation, indoor environment management, and comprehensive rain and sewage management [1] - Dongfang Yuhong has innovatively developed a "pipe and waterproof integration" system solution based on the concept of integrated hidden engineering, addressing industry pain points related to the separation of pipeline and waterproofing works in traditional home decoration [1]

Core Viewpoint - Dongfang Yuhong (002271) has a diverse business portfolio that includes various sectors such as construction waterproofing, building materials, mortar powder, architectural coatings, energy-saving insulation, adhesives, piping, building maintenance, new energy, non-woven fabrics, specialty films, and emulsions. The company has not yet independently developed production technology related to DuPont paper [1]. Group 1 - The company covers multiple business segments including construction waterproofing and building materials [1] - The company has not made any independent moves towards developing DuPont paper production technology [1]